Tax practice

The Internal Revenue Service did not always follow its own internal guidelines for notifying taxpayer representatives of the filing of a Notice of Federal Tax Lien against their clients, according to a new report.

The Internal Revenue Service has decided to postpone the unpaid furlough day it had scheduled for August 30 after making progress on cutting costs at the agency.

The National Federation of Independent Business and the S Corporation Association released a new study Wednesday showing that S corporations pay the highest effective rates of any business type.

A proposal to drastically cut or abolish state income taxes in Georgia and replace them with higher sales taxes would raise taxes on up to 80 percent of Georgia taxpayers and spike Georgia's average state and local sales tax to as high as 14.5 percent, according to a new study.

The American Institute of CPAs has sent a comment letter to the Internal Revenue Service and the Treasury Department highlighting potential problems for international tax entities from the IRS’s proposed regulations related to the net investment income tax.

The Internal Revenue Service is required to notify taxpayers of their rights when requesting an extension of the statute of limitations for assessing additional taxes and penalties, but might not always notify them or their representatives, according to a new report.

A pair of Senate Democrats have introduced legislation to end unlimited tax write-offs on performance-based executive pay, allowing publicly traded corporations to deduct only up to $1 million in pay per employee.

The Internal Revenue Service has finalized regulations governing certain transfers of property to regulated investment companies and real estate investment trusts.

The Internal Revenue Service has issued guidance on the branded prescription drug fee for next year.

A Los Angeles-area tax preparer has been arrested on charges of filing false claims for tax refunds.

New York Governor Andrew M. Cuomo announced a new initiative Monday to encourage individuals who owe significant back taxes to the state to pay their bills by suspending their New York State driver licenses when their past-due tax liability exceeds $10,000.

The House passed a bill to prohibit the Internal Revenue Service from implementing or enforcing the Affordable Care Act before heading home for Congress’s August recess, but the legislation has little chance of advancing in the Senate.

Employers in 17 states (and the Virgin Islands) may not be eligible to claim the maximum amount of state unemployment tax credits on their 2013 federal unemployment tax return, because their state has had an outstanding federal unemployment insurance loan for at least two years, according to tax analysts at Thomson Reuters Checkpoint.

The Internal Revenue Service opened 1,100 criminal investigations of tax fraud by June 30 this year, exceeding the 2012 total with three months remaining in the fiscal year.

House Oversight Committee Chairman Darrell Issa sent a subpoena for Internal Revenue Service documents to the Treasury Secretary, saying he thinks the agency’s chief counsel’s office is “compromised.”

The U.S. tax systems for individuals and corporations should be revamped together, said the top Republican tax writer in Congress, resisting President Barack Obama’s call for a business-only approach.

Tax reform talk is heating up. Support is growing for bipartisan efforts to rewrite the tax code, with committee chairmen and ranking members in both the House and the Senate jumping aboard the effort.

A bipartisan group of senators have introduced legislation to combat acts of tax evasion, money laundering, terrorism and other wrongdoing facilitated by U.S. corporations with hidden owners.

President Barack Obama said he will nominate John Koskinen, former chairman of Freddie Mac, as the next Internal Revenue Service commissioner.

Vulnerabilities at the Internal Revenue Service could allow for improper or fraudulent claims for bond tax credits, according to a new government report.